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The passenger vehicle dashboard camera market is projected to grow by USD 3.00 billion with a CAGR of 19.82% during the forecast period 2021 to 2026.
This passenger vehicle dashboard camera market research report provides valuable insights on the post-COVID-19 impact on the market, which will help companies evaluate their business approaches. Furthermore, this report extensively covers the passenger vehicle dashboard camera market segmentation by product (single channel and dual channel), component (battery, lens, gravity sensor, GPS, microphone, and others), and geography (APAC, Europe, North America, South America, and the Middle East and Africa). The passenger vehicle dashboard camera market report also offers information on several market vendors, including ABEO Technology Co. Ltd., Chameleon Codewing Ltd., Cobra Electronics Corporation and Escort Inc., DigiLife Technologies Co. Ltd., DOD Tech, Falcon Electronics LLC, Garmin Ltd., Harman International Industries Inc., Honeywell International Inc., LG Innotek, Panasonic Holdings Corp., Pittasoft Co. Ltd., Rexing Inc., Robert Bosch GmbH, SCDE Solutions Pvt. Ltd., Shenzhen Daza Innovation Technology Co. Ltd., Shenzhen Firstscene Technology Co. Ltd., Steelmate Automotive UK Ltd., SUNLIGHT UK TRADING Ltd., and Waylens Inc. among others.
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The research studied the historical data considered for years, with 2021 as the base year and 2022 as the estimated year, and produced drivers, trends, and challenges for the passenger vehicle dashboard camera market.
Key Passenger Vehicle Dashboard Camera Market Driver
The increasing adoption of multi-channel dashboard cameras is one of the key drivers supporting the passenger vehicle dashboard camera market growth. Most dual-channel or multi-channel dashboard cameras are single devices with cameras on both sides. However, the dual-channel dashboard cameras used in heavy-duty trucks and trailers are two separate cameras that are installed on the windshield and at the rear end of the vehicle. For instance, the discounts on insurance premiums for vehicles installed with dashboard cameras are calculated based on the type of camera and its recording quality. Thus, the increasing adoption of multi-channel dashboard cameras is expected to augment the growth of the market during the forecast period.
Key Passenger Vehicle Dashboard Camera Market Trend
The introduction of energy-efficient dashboard cameras is one of the key passenger vehicle dashboard camera market trends contributing to the market growth. An automotive dashboard camera is always switched on when a vehicle is in driving mode and when it is parked. These cameras are either powered by external batteries or the vehicle's battery (through the OBD port). This leads to frequent replacements of external batteries or the frequent draining of the vehicle's battery. To overcome such issues, dashboard camera manufacturers have introduced energy-efficient dashboard cameras. Thus, the introduction of energy-efficient dashboard cameras is expected to positively impact the market during the forecast period.
Key Passenger Vehicle Dashboard Camera Market Challenge
The inconsistent quality of automotive dashboard cameras is one of the factors limiting the passenger vehicle dashboard camera market growth. Vehicle users that install dashboard cameras for insurance claims and the safety of their vehicle when parked prefer multi-channel dashboard cameras to single-channel dashboard cameras. This reduces the camera quality of single-channel dashboard cameras. Furthermore, there are no regulations to govern the dashboard camera quality in the market, resulting in the high sales of low-cost dashboard cameras. This creates dissatisfaction in terms of camera quality among price-sensitive consumers who install low-cost dashboard cameras. These factors will restrict the penetration of dashboard cameras due to the inconsistency in camera quality, which is expected to pose a challenge to the market during the forecast period.
This passenger vehicle dashboard camera market analysis report also provides detailed information on other upcoming trends and challenges that will have a far-reaching effect on the market growth. The actionable insights on the trends and challenges will help companies evaluate and develop growth strategies for 2022-2026.
Technavio categorizes the global passenger vehicle dashboard camera market as a part of the global automotive components and accessories market. Our research report has extensively covered external factors influencing the parent market growth potential in the coming years, which will determine the levels of growth of the passenger vehicle dashboard camera market during the forecast period.
The report analyzes the market’s competitive landscape and offers information on several market vendors, including:
This statistical study of the passenger vehicle dashboard camera market encompasses successful business strategies deployed by the key vendors. The passenger vehicle dashboard camera market is fragmented, and the vendors are deploying organic and inorganic growth strategies to compete in the market.
To make the most of the opportunities and recover from the post-COVID-19 impact, market vendors should focus more on the growth prospects in the fast-growing segments while maintaining their positions in the slow-growing segments.
The passenger vehicle dashboard camera market forecast report offers in-depth insights into key vendor profiles. The profiles include information on the leading companies' production, sustainability, and prospects.
Our report provides extensive information on the value chain analysis for the passenger vehicle dashboard camera market, which vendors can leverage to gain a competitive advantage during the forecast period. The end-to-end understanding of the value chain is essential in profit margin optimization and evaluation of business strategies. The data available in our value chain analysis segment can help vendors drive costs and enhance customer services during the forecast period.
1 Executive Summary
2 Market Landscape
3 Market Sizing
4 Five Forces Analysis
5 Market Segmentation by Product
6 Market Segmentation by Component
7 Customer Landscape
8 Geographic Landscape
9 Drivers, Challenges, and Trends
10 Vendor Landscape
11 Vendor Analysis
12 Appendix
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